MCHI top 10 is a value scan. Earnings yield vs bonds in 8 of 10 names, book +3.7% to +5.8%, median conf 72. Three basic materials, two insurers, one consumer defensive, but this is a factor concentrat

New China Life Insurance Company Ltd. ($1336.HK) +5.8%, conf 72, univ 100. China Taiping Insurance Holdings Company Limited ($0966.HK) +5.1%, conf 70, univ 100. Same earnings-yield-vs-bonds core. Difference: $1336.HK gets vol instability, $0966.HK gets downside risk + fwd/trail P/E. Both look like yield plus stress, not clean value. Want Want China Holdings Limited ($0151.HK) +4.7%, conf 72, consumer defensive, univ 100. Same yield driver but adds vol instability and illiquidity. $002128.SZ Inner Mongolia Dian Tou Energy Corporation Limited +4.4%, conf 72, energy sec 100. Fwd/trail P/E, earnings yield, EPS revision trend. Energy sneaks in without being part of the sector concentration. China Railway Group Limited ($0390.HK) +4.0%, conf 72, industrials, univ 99. Yield vs bonds positive, vol instability negative — lower-vol value. $1530.HK 3SBio Inc. +3.9%, conf 72, healthcare, univ 99. Same yield driver but 12mo momentum negative. Value call against bad tape. Yunnan Aluminium Co., Ltd.

New China Life Insurance Company Ltd. ($1336.HK) +5.8%, conf 72, univ 100. China Taiping Insurance Holdings Company Limited ($0966.HK) +5.1%, conf 70, univ 100. Same earnings-yield-vs-bonds core. Diff